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Barely two weeks into the new Bureau de Change (BDC) regulatory regime, the Central Bank of Nigeria (CBN) may have finally stopped the funding of the sub-sector, and, in extension, the retail foreign exchange (FX) market, The Guardian learnt at the weekend.
The decision, according to sources, comes on the back of the CBN’s resolve to re-chart its way back to the market liberalisation template and minimise quick fixes, that is, applying mechanical approaches to what should have been an institutionalised process in managing the FX market.
On a broader scale, The Guardian has learnt, the monetary authority is currently reviewing major policies to…
Source: Guardian Newspaper
